Corporate Full Year 2018: Sharp improvement in annual results

Sharp improvement in annual results

Accounting net income of €855m, up 25.5% vs. 2017

Successful integration of Pioneer

An acquisition that strengthens Amundi’s business model and its European leadership position

A transaction that creates significant value: total synergies raised to €175m, vs €150m originally announced

Successful integration of Pioneer An acquisition that strengthens Amundi’s business model and its European leadership position A transaction that creates significant value: total synergies raised to €175m, vs €150m originally announced

FY 2018

Annual results in line with stated targets, despite an unfavourable environment

  • Increase in accounting net income1 (to €855m) of +25.5% vs. 2017 and in accounting EPS of +19.8%
  • Adjusted net income2 of €946m, up 9% vs 2017 excluding extraordinary financial revenues3 (vs. a target of +7%3)
  • Net asset management revenues almost stable (-0.7% vs. 2017), despite market conditions
  • A cost/income ratio2 of 51.5%, an improvement of 0.9 pt

 

Strong net inflows4 (+€42bn), driven mainly by MLT assets5 (+€36bn)

In Q4 2018

Quarterly adjusted net income remains high (€225m)

  • Compared with an exceptionally high Q4
  • Excluding financial revenues6, adjusted net income was stable compared with Q4 2017
  • A cost/income ratio2 of 52.5%, thanks to lower costs

 

Net outflows of -€6.5bn with a resilient Retail activity (+€0.5bn)

Integration of Pioneer - A successful transaction:

  • Bolsters Amundi’s business model in three dimensions: distribution, expertise and talent
  • Executed in record time (18 months)
  • Creates significant value:
    • 2018 adjusted EPS2 up 36% vs. 2016 (> accretion target of 30%7)
    • Total cost synergies raised from €150m to €175m
    • Faster-than-anticipated phasing of synergies

Dividend

Dividend proposed at the General Meeting: €2.90 per share (+16% vs. 2017)

Amundi’s Board of Directors, chaired by Xavier Musca, convened on 12 February 2019 to approve the financial statements for 2018

Yves Perrier

Amundi's CEO
Despite an unfavourable market environment, Amundi's results increased sharply once again in 2018. There are two factors behind this improvement. First, business momentum remained strong, despite the market context, and benefited from Amundi’s significant international presence, particularly in Asia. Second, the Pioneer integration has been a success, and the acquisition has significantly strengthened Amundi's business model; the integration was executed quickly and competently, and therefore the total amount of synergies has been increased to €175m per year
  1. After integration costs and amortisation of distribution contracts
  2. Before integration costs and amortisation of distribution contracts
  3. Growth rate calculated based on 2017 adjusted and combined net income excluding the exceptionally high level of financial income
  4. Inflows include assets under management, under advisory and assets sold, and take into account 100% of the Asian JVs’ inflows and assets under management. For Wafa in Morocco, assets are reported on a proportional consolidation basis
  5. MLT : Medium Long-term assets: excluding treasury products
  6. Financial revenues in Q4 2017 included capital gains on disposals, and Mark to Market was negative in Q4 2018 due to the decline in the markets
  7. Accretion target announced on 12/12/2016, including the full-year effect of synergies and excluding integration costs and amortisation of distribution contracts
  8. Comparison with combined 2017 data: 12 months Amundi + 12 months Pioneer
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Documents à télécharger

  • 11/02/2019

    02.13.2019 - PR - Amundi 2018 annual and Q4 results

    901 KB PDF Téléchargement

In focus

Corporate

Résultats Amundi - Résultats annuels et du T4 2021

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A propos d'Amundi

Premier gérant d’actifs européen parmi les 10 premiers acteurs mondiaux1, Amundi propose à ses 100 millions de clients - particuliers, institutionnels et entreprises - une gamme complète de solutions d’épargne et d’investissement en gestion active et passive, en actifs traditionnels ou réels. Cette offre est enrichie de services et d’outils technologiques qui permettent de couvrir toute la chaîne de valeur de l'épargne. Filiale du groupe Crédit Agricole, Amundi est cotée en Bourse et gère aujourd’hui plus de 2 300 milliards d’euros d’encours2.

Ses six plateformes de gestion internationales3, sa capacité de recherche financière et extra-financière, ainsi que son engagement de longue date dans l’investissement responsable en font un acteur de référence dans le paysage de la gestion d’actifs.

Les clients d’Amundi bénéficient de l’expertise et des conseils de 5 600 professionnels dans 35 pays.

Amundi, un partenaire de confiance qui agit chaque jour dans l’intérêt de ses clients et de la société.

www.amundi.com    

Footnotes

  1. Source : IPE « Top 500 Asset Managers » publié en juin 2024 sur la base des encours sous gestion au 31/12/2023
  2. Données Amundi au 31/03/2025
  3. Paris, Londres, Dublin, Milan, Tokyo et San Antonio (via notre partenariat stratégique avec Victory Capital)

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